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's looming. the so called fiscal cliff is getting closer and apparently no movement in congress to avoid it so far. the impasse is over raising tax rates on upper bracket income earners. republicans say they're willing to consider a tax hike but they want larger cuts made to benefit programs. the small business leaders came to avoid the cliff and tax hike on the middle class. on friday he's off to philadelphia where he will make a public case for his strategy and two gop leaders. >> rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail. >> the election was conclusive in terms of which path the majority of the american people want to take. >> house republicans are also planning to hold events in the coming weeks with small business owners to highlight the effects the tax increase could have on them and their likelihood. how does the fiscal cliff impact california? larry, a lot of talk on how it will impact high earners. a lot of middle income class folks could feel it as well. >> if we go over the fiscal cliff, we're going to
shares are still down about 30% from the initial public offering back in may. >>> with the fiscal cliff edging closer, the white house took a hard line, insisting they have to rise from affluent americans and many more delays could hurt hol dha roadway tail sales. >> the senate will come to order. >> back from thanksgiving, senators are on the sidelines. >> really we have to make tough decisions. >> the house has the ball. >>> i don't care if you raise taxes 100% on the wealthy. you're not going to fix the deficit prap. >> the republican leader is talking about it. but republicans are open to new rev new because of the new reality. >>> well, the president got reelected and we know at the end f this year taxes are going up on everybody. >> republicans say if the rich do pay more it should come only by reducing their tax deductions. democrats still insist on a rate hike on the rich. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts or those making more than $250,000. >> billionaire warren buffett, an obama ally, again with a rate hike on the r
, but that doesn't mean a break in talks about the impending fiscal cliff. lobbyists are launching new tv print and radio ads. lawmakers are struggling to agree on a deficit cutting deal and now are facing added pressure from special interest groups. danielle lee has more from washington. >> reporter: congress may need to drown out the noise next week as they look more common ground to avoid $500 billion in tax increases. several unions launched an ad campaign, pressuring lawmakers to protect entitlement programs. >> for working families, it's not about cutting things we rely on most. >> reporter: advocates for the elderly, weaponsmakers, the oil and gas industry, even charity. >> congress has failed to do its job for the past ten years and they are so far continuing to fail to do their job. >> reporter: rick edleman worries the tug of war could end with no solution. a real possibility, as democrats reject spending cuts and republicans resist tax increases. >> if you're in congress, you can reduce taxes on january 2 relative to the new rates that prevail starting then. >> reporter: it's a dance
Search Results 0 to 2 of about 3

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